Will Interest Rates Go Down in July 2012?
I have spent quite a bit of time explaining my rationale about predicting whether or not interest rates are going down in the near future. You can read my reasons here. Essentially it revolves around which direction fixed rates are heading. It’s a little simplistic, however given that I don’t have time to analyse the worlds economies and the staff at the banks do it for a living I am going to continue riding their coat tails. So, are interest rates going down next week?
Interest Rates Going Down?
I think we are going to see rates stay put. A few of the lenders have their 1, 2 & 3 year fixed mortgage rates set at 5.99% Given that they have their discounted variable rates around 6.05% I think they are assuming things are probably going to stay still.
That’s my guess, we will see what happens! There is another question worth asking here. Should you fix now or not and what are the right reasons to fix your loan? Have a read of these articles if these questions relate to you!
Article by James Parnwell
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